New 10 Year Government Bond

UNDERLYNG ASSET	Notional Government Bond with a 6% annual coupon and a maturity of 10 years.
CONTRACT FACE VALUE	€ 100,000
QUOTATION METHOD	Percentage of contract value.
MINIMUM PRICE FLUCTUATION	One basis point, equivalent to €10.
MAXIMUM PRICE FLUCTUATION	None. If necessary it will be communicated by circular.
PROFIT AND LOSS DAILY SETTLEMENT	Daily, in cash, by differences with Daily Settlement Price of the previous session.
MATURITIES	At least the three closest maturities to March, June, September and December
EXPIRATION DATE	10th day of the maturity month. If holiday next business day.
LAST TRADING AND REGISTRATION DAY	Two business days prior to the expiration date.
DAILY SETTLEMENT PRICE	It will be an approximation to the "market price". Criteria will be determined by circular.
SETTLEMENT PRICE AT EXPIRATION	Calculated by dividing the cheapest to deliver bond market price (ex-coupon) at the end of the session by the conversion factor of the bond. The market price of the cheapest to deliver bond will be the closing price for that bond determined by SENAF.
SETTLEMENT AT EXPIRATION	Deliveries of the underlying asset and the corresponding payments are due on the expiration date.
MARGINS	Establish by circular.
AUCTION PERIOD	From 7:55 a.m. to 8:00 a.m.
TRADING HOURS	From 8:00 a.m. to 17:35 p.m.

For more information please visit the Financial Derivatives General Conditions for trading at MEFF and for Clearing and Settlement at BME Clearing.